Sitharaman launches NPS Vatsalya, parents can open pension a/c for children

Finance Minister Nirmala Sitharaman on Wednesday launched the NPS Vatsalya scheme, which will allow parents to save for their children's future by investing in a pension account.
Parents can subscribe to NPS Vatsalya online or visiting a bank or post office. The minimum contribution to open Vatsalya account is Rs 1,000. Subscribers will have to contribute Rs 1,000 annually thereafter

The guidelines for withdrawal from NPS accounts are being finalised.
Launching the scheme, Sitharaman said NPS has generated very competitive returns and offers the option to people to save while ensuring future income.

Source: Business Standard and PTI